According to their latest 13F filings, institutional investors made a series of notable moves in Caterpillar Inc. (CAT), signaling continued confidence in the industrial giant’s strong earnings power, pricing discipline, and infrastructure exposure. Caterpillar’s position as a bellwether for global economic activity continues to attract long-term value investors seeking durable cash flows and shareholder returns. Let’s examine some of the most notable changes:

Fisher Asset Management, LLC (Ken Fisher)
Shares: 9,418,321 Change: +208,196 Value: $3.66B
Ken Fisher added to his already substantial Caterpillar stake, increasing holdings by over 200,000 shares. The move underscores his conviction in Caterpillar’s ability to sustain margins and dividend growth through the industrial cycle.

Gotham Asset Management LLC (Joel Greenblatt)
Shares: 97,913 Change: +28,614 Value: $0.04B
Joel Greenblatt boosted his position by nearly 30%, reflecting confidence in Caterpillar’s attractive valuation and robust capital-return program.

AQR Capital Management LLC (Cliff Asness)
Shares: 103,957 Change: +21,979 Value: $0.04B
Cliff Asness modestly raised AQR’s stake, maintaining exposure to a cyclical leader that benefits from infrastructure demand and disciplined capital allocation.

Grantham, Mayo, Van Otterloo & Co. LLC (Jeremy Grantham)
Shares: 12,854 Change: +618 Value: $0.00B
Jeremy Grantham slightly increased his position, consistent with his firm’s strategy of selectively adding to established industrial franchises at reasonable valuations.

Markel Group Inc. (Tom Gayner)
Shares: 328,650 Change: +600 Value: $0.13B
Tom Gayner’s incremental addition reinforces Markel’s long-term orientation toward high-quality compounders with enduring business models and steady free cash flow.

GAMCO Investors, Inc. ET AL (Mario Gabelli)
Shares: 683 Change: +4 Value: $0.00B
Mario Gabelli’s small increase keeps Caterpillar on his radar as a cyclical recovery and buyback beneficiary.

Point72 Asset Management, L.P. (Steve Cohen)
Shares: 81,351 Change: New Position Value: $0.03B
Steve Cohen initiated a new position in Caterpillar, likely a tactical move to capture near-term upside amid strong equipment demand and resilient order backlogs.

Collectively, these moves highlight broad institutional confidence in Caterpillar’s earnings durability and capital discipline—even amid macro uncertainty—cementing its role as a core industrial holding among top investors.

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